Sentinel Capital Partners has acquired SONNY’S Enterprises, a supplier of parts and systems for conveyorized car washes.
SONNY’S is considered to be the largest manufacturer and distributor of conveyorized car wash equipment, parts and supplies in the world. The company has a 900 page car wash parts catalog with more than 12,000 SKUs. The company also offers an educational program known as CarWash College, an active learning experience where car wash operators, and investors come together to take courses in maintenance, repair, and management of car washes. SONNY’s was founded in 1949 by Sonny Fazio and has a 135,000 sq. ft. facility and headquarters near Ft. Lauderdale in Tamarac, FL (www.sonnysdirect.com).
“SONNY’S is a leading car care platform with strong development and design capabilities, a record of innovation, and unparalleled customer relationships,” said Scott Perry, a Partner at Sentinel. “SONNY’S offers an impressive breadth of products and has built longstanding sales relationships and distribution channels throughout North America. We are very excited about this investment and the opportunity to partner with SONNY’S outstanding management team. We see a bright future for SONNY’S, which has an exciting opportunity to grow organically and through acquisitions.”
Sentinel Capital Partners invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare services, and industrials. The past 12 months have been busy for Sentinel. Besides SONNY’S, Sentinel has made four other new platform investments: Quick Weight Loss Centers, a multistate provider of weight loss management services; Revenew International, a provider of contract compliance and supplier payment review services; The Luminaires Group, a manufacturer of specification-grade lighting products; and Marketplace Events, a North America producer of consumer home and garden shows.
“SONNY’S will continue to execute on the vision and plan that my father set for the company – to be the premier provider of car care products to car wash professionals,” said CEO Paul Fazio. “Sentinel was very different from any other firm that contacted me in the past. From the first conversation, it was clear that a partnership with Sentinel will allow SONNY’S to accelerate its rapid growth record and to expand the number of world class products and services to our clients.”
Sentinel Capital Partners is headquartered in New York (www.sentinelpartners.com).
© 2016 Private Equity Professional | December 7, 2016
